USD/CAD Comatose With Bearish Hammer Candles
FxGrow | Sep 20, 2016 07:59AM ET
USD/CAD comatose with bearish hammer candles in absence of news
USD/CAD is still moving neutral to bearish, taking a deep sleep in absence of crucial news that has a major effect on the Canadian dollar. CAD is still fighting trying to move stronger than USD, but with the absence of trust and faith in Canadian dollar, the bearish movement is slight. Today, Poloz, Governor of the Bank of Canada, will draw a better picture of how the Canadian dollar will move facing USD and other pairs.
Key levels to watch: H5 PP 1.3209, First Resistance R2 1.3225, R2 1.3235, R3 1.3249
First support S1 1.3192, S2 1.3180, S3 1.3171
Trend: slightly downward
Remark: the downward trend is more likeable, but a shift up or down will be determined as Governor Poloz makes an appearance today at 5:50 PM GMT with news about Canadian dollar.
Disclaimer: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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